Navigant Consulting Announces Definitive Agreement to Acquire Troika (UK) Limited, Creating a Leading Global Financial Services Consulting Team
Troika provides consultancy services to the financial services industry covering operations performance improvement; product and distribution strategies; organization, people and change; IT effectiveness and transaction support. Troika's UK clients include 13 of the top 15 Life & Pension companies, nine of the top 15 Banks and Building Societies and ten of the top 15 Investment Management firms. In 2006, Troika was the UK Management Consultancy Association's "Best Small Management Consultancy of the Year."
"Navigant continues to expand on a global scale," stated Don Harvey, Navigant Consulting Managing Director of European Operations. "We expect London to be the key center for the international financial services markets over the next several years. Joining forces with Troika enhances our ability to be a leading player in this market, and to provide a targeted range of business enhancing services." Following the acquisition, Navigant Consulting in the UK represents more than 225 professionals with experience in providing clients with strategic, performance, risk management, financial and dispute management advice.
"I am delighted that in Navigant we have found a partner who shares our belief in the value of independent thinking, born out of industry experience, creativity and practicality," stated Andrew Stewart, Managing Director of Troika. "Together we can continue to redefine the delivery of Professional Services, bringing enhanced offerings to Troika's client base in UK Financial Services as well as Navigant clients around the world."
"Troika offers our Financial Services practice several exciting strategic advantages and they represent an excellent platform for us to further our Financial Services consulting business in one of the largest financial markets in the world," stated David Kay, Managing Director in Navigant Consulting's Financial Services practice. "The Troika team provides us the ability to leverage their skills and services into the U.S. and European markets. They have exceptional consulting capabilities, management skills and client relationships that represent a valuable addition to our expanding Financial Services practice."
Troika was founded in 1998 by Andrew Stewart, Neil Mayall and Richard Vale. The Troika team is based in London and includes more than 40 billable consultants. Additional transaction details were not disclosed.
About Navigant Consulting
Navigant Consulting, Inc. (NYSE:NCI) is a specialized independent consulting firm of 2,500 professional staff providing dispute, financial, regulatory and operational advisory services to government agencies, legal counsel and large companies facing the challenges of uncertainty, risk, distress and significant change. The Company focuses on industries undergoing substantial regulatory or structural change including healthcare, energy and financial and insurance services, and on the issues driving these transformations. "Navigant" is a service mark of Navigant International, Inc. Navigant Consulting, Inc. (NCI) is not affiliated, associated, or in any way connected with Navigant International, Inc. and NCI's use of "Navigant" is made under license from Navigant International, Inc. More information about Navigant Consulting can be found at www.navigantconsulting.com.
Troika was established in 1998 as an independent professional services firm to offer a new style of advisory services to the Financial Services industry. They have offices in London and Edinburgh and their mission is to apply experience, clear thinking and teamwork to deliver pragmatic solutions to complex problems. Troika focuses on the financial services market, particularly on clients operating in life assurance and pensions, investment management, retail banking and general insurance. Troika's primary areas of expertise are distribution of regulated products, products and propositions, customer retention, operational effectiveness, outsourcing and off shoring, organisation, people and change, IT effectiveness and transaction support. They help their clients to deliver lasting, large-scale change by getting more out of their existing organization and resources. More information about Troika can be found at www.troika.co.uk.
Except as set forth below, statements included in this press release, which are not historical in nature, are intended to be, and are hereby identified as, "forward-looking statements" as defined within the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words including "anticipate," "believe," "intends," "estimates," "expect" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation, those relating to the Company's future business prospects, revenues, working capital, liquidity, income and margins, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements, due to several important factors, including those identified from time to time in the Company's reports filed with the SEC. Such risk factors include, but are not limited to: acquisitions and acquisitions under consideration, follow-on offerings, revenues and financial estimates, significant client assignments, recruiting, attrition and new business solicitation efforts, judicial proceedings, regulatory changes and general economic conditions.
SOURCE: Navigant Consulting, Inc.
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